HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Given Consensus Rating of “Moderate Buy” by Brokerages

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) has earned an average rating of “Moderate Buy” from the nine research firms that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $7.6250.

Several equities analysts have recently commented on the stock. HC Wainwright boosted their target price on shares of HIVE Digital Technologies from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Tuesday, November 18th. Northland Securities set a $7.50 price objective on shares of HIVE Digital Technologies in a research report on Tuesday, October 7th. Weiss Ratings restated a “sell (d+)” rating on shares of HIVE Digital Technologies in a research note on Wednesday. B. Riley decreased their price target on HIVE Digital Technologies from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Friday, November 21st. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $3.50 price objective (down from $11.00) on shares of HIVE Digital Technologies in a research report on Tuesday, January 27th.

HIVE Digital Technologies Stock Performance

NASDAQ:HIVE opened at $2.79 on Friday. The company has a market cap of $697.00 million, a price-to-earnings ratio of -13.29 and a beta of 3.58. HIVE Digital Technologies has a fifty-two week low of $1.26 and a fifty-two week high of $7.84. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.55 and a current ratio of 2.55. The stock has a fifty day moving average price of $3.04 and a 200-day moving average price of $3.48.

HIVE Digital Technologies (NASDAQ:HIVE) last posted its quarterly earnings results on Friday, November 14th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). HIVE Digital Technologies had a negative net margin of 16.18% and a negative return on equity of 14.15%. The company had revenue of $83.37 million during the quarter, compared to analyst estimates of $80.62 million. As a group, equities analysts anticipate that HIVE Digital Technologies will post -0.32 EPS for the current fiscal year.

Institutional Investors Weigh In On HIVE Digital Technologies

Hedge funds have recently made changes to their positions in the stock. UBS Group AG increased its position in HIVE Digital Technologies by 3,992.2% during the 4th quarter. UBS Group AG now owns 929,390 shares of the company’s stock worth $2,398,000 after purchasing an additional 906,679 shares in the last quarter. WMG Financial Advisors LLC grew its stake in shares of HIVE Digital Technologies by 400.0% during the fourth quarter. WMG Financial Advisors LLC now owns 50,000 shares of the company’s stock worth $129,000 after buying an additional 40,000 shares during the last quarter. Quilter Plc bought a new stake in shares of HIVE Digital Technologies during the fourth quarter worth $88,000. ACT Wealth Management LLC increased its holdings in shares of HIVE Digital Technologies by 33.3% during the fourth quarter. ACT Wealth Management LLC now owns 16,000 shares of the company’s stock worth $41,000 after buying an additional 4,000 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. lifted its stake in shares of HIVE Digital Technologies by 94.7% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 338,142 shares of the company’s stock valued at $872,000 after acquiring an additional 164,495 shares during the last quarter. 24.42% of the stock is currently owned by institutional investors and hedge funds.

HIVE Digital Technologies Company Profile

HIVE Digital Technologies Ltd is a publicly traded blockchain infrastructure company that specializes in the mining of digital assets such as Bitcoin and Ethereum. Using high-performance GPU and ASIC hardware, HIVE deploys proprietary mining rigs across multiple data centers to validate transactions on major blockchain networks. The company’s operations are designed to maximize hashing power while maintaining efficiency and uptime, enabling it to build and hold a portfolio of mined cryptocurrencies.

Headquartered in Vancouver, British Columbia, HIVE Digital operates data center facilities in North America and Europe, including Canada, Sweden and Iceland.